WINDING-UP PETITION SERVED ON COUNTRY HEIGHTS COMMERCIAL DEVELOPMENT SDN. BHD. (“CHCDSB”), A WHOLLY-OWNED SUBSIDIARY OF COUNTRY HEIGHTS HOLDINGS BERHAD

1. INTRODUCTION

The Board of Directors of Country Heights Holdings Berhad ("CHHB" or "the Company") wishes to announce that on 24 July 2025, the Company received a winding-up petition filed under Section 465(1)(e) read together with Section 466(1)(a) of the Companies Act 2016 against its wholly-owned subsidiary, Country Heights Commercial Development Sdn. Bhd. [199501029839 (359045-X)] ("CHCDSB"), by Lembaga Hasil Dalam Negeri Malaysia ("LHDNM").

2. DETAILS OF THE WINDING-UP PETITION

Petitioner: Government of Malaysia (represented by LHDNM)
Respondent: Country Heights Commercial Development Sdn. Bhd. (a wholly-owned subsidiary of CHHB)
Amount Claimed: RM312,560.63 (comprising tax arrears, interest and costs)
Date of Petition: 23 June 2025

Date of Service: 2 July 2025

Date of Receipt by CHHB: 24 July 2025

High Court Reference: BA-28NCC-438-06/2025

Hearing Date: 29 September 2025

Grounds:

CHCDSB is presumed to be unable to pay its debt under Section 466(1)(a) of the Companies Act 2016 following its failure to comply with a statutory notice of demand dated 25 March 2025.

3. INFORMATION ON COUNTRY HEIGHTS COMMERCIAL DEVELOPMENT SDN. BHD.

CHCDSB was incorporated on 11 September 1995. Its principal activities are real estate operations involving non-residential properties and investment holding.

CHCDSB is wholly-owned by CHHB with an issued and paid-up capital of RM100,000. It is not a major subsidiary of CHHB.  Based on the latest audited financial statements for the financial year ended 31 December 2023, CHCDSB recorded a net profit of RM922,098 and had current liabilities amounting to RM34.22 million.

4. IMPACT ON THE GROUP

The winding-up petition is not expected to have any immediate material financial or operational impact on the CHHB Group, as CHCDSB is not a principal contributor to the Group’s revenue or earnings. However, the Company will evaluate the need for any provisions or impairment in future financial statements depending on the outcome of the petition.

5. STEPS TAKEN BY THE COMPANY

The Company is seeking legal advice and considering all available options including settlement negotiations with LHDNM, opposing the petition, or pursuing other corporate actions deemed necessary to safeguard the interests of the Group.

6. DIRECTORS’ STATEMENT

The Board of Directors of CHHB, after having made due enquiries, confirms that it will take the necessary actions to address and resolve the matter in the best interests of the Company and its shareholders.

This announcement is dated 24 July 2025.